What happen when your car is gone or stolen ?
This policy insures you against claims for bodily injuries or deaths caused to other persons (known as the third party), as well as loss or damage to third party property caused by your vehicle.
This policy provides insurance against claims for third party bodily injury and death, third party property loss or damage, and loss or damage to your own vehicle due to accidental fire or theft.
This policy provides the widest coverage, i.e. third party bodily injury and death, third party property loss or damage and loss or damage to your own vehicle due to accidental fire, theft or an accident.
If you insure your vehicle at a lower sum than its market value, you will be deemed as self insured for the difference, i.e. in the event of loss/damage, you will only be partially compensated (up to the proportion of insurance) by your insurance company.
Should you insure your vehicle at a higher sum than its market value, the maximum
compensation you will receive is the market value of the vehicle as the policy owner
cannot ‘profit’ from a motor insurance claim. Source: Insurance Info
What to do next when your car is gone ?
- Do not panic! If you can’t find your vehicle in a public area, look around and make sure you have not merely forgotten where you parked it. If you parked it illegally check with the relevant authority first as it may be towed away.
- Lodge police report immediately, bring along the a copy of car registration card issued by Road Transport Department (JPJ).
- Inform your insurer. Only motorists with Comprehensive cover can submit a theft claim.
The insurer will require the following when you make a claim. Please take note some insurers may require additional or fewer supporting documents.
3) Police investigation result
4) Original certificate of insurance
5) Copies of insured’s identity card and driving license
6) Copies of driver identity card and driving license (if differ from insured)
7) Original release letter or latest outstanding loan statement from the financial institution/bank which finances the purchase of your insured vehicle (if applicable)
8) Two set of original vehicle keys
9) JPJ’s Lampiran B duly signed and certified by a commissioner of Oaths
10) Two copies of JPJ’s Transfer Form K3 (transfer of vehicle ownership form to be completed by registered owner), K8 with annexures identified as Lampiran A1 , C1
11) Memorandum Article of Association, Form 9, 24,44 and 49
12) certified true copy by company secretary (for company vehicle only)
PIAM ISM motor vehicle claims statistics
General Insurance Association of Malaysia(PIAM)